1. a. What is the difference between a particular average and a general average loss in ocean marine insurance? b. What conditions must be fulfilled to have a general average loss? 2. Identify the...

1. a. What is the difference between a particular average and a general average loss in ocean marine insurance?

b. What conditions must be fulfilled to have a general average loss?

2. Identify the major types of commercial property that can be insured under an inland marine insurance policy.

3. Classify the following coverages as “Ocean marine” or

“Inland marine” and describe the insurable interests reflected by each of them:

a. Hull Insurance valuable papers and records coverage form

b. Protection and Indemnity (P&I) insurance